LME Inventory:

  • Copper   UP      550
  • Zinc    DOWN    -2500
  • Lead    DOWN    -1150
  • Nickel  DOWN    -66

Cancelled warrant ratio :        

  • Copper  DOWN     (0.93)
  • Zinc    DOWN     (0.21)
  • Lead    DOWN     (0.52)
  • Nickel  UP       0.26

INVENTORY IMPACT:

Metal inventories witnessed slight drawdown while the cancelled warrants have also declined and may continue to weaken gains in metals future except Nickel. Nickel warrants have improved in the past couple of sessions indicating better demand may likely cap much downside

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